IWM Options History — March 2015

In March 2015, IWM traded between $120.20 and $125.97. ATM implied volatility averaged 15.3%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 3.7% (HV 20d: 11.6%). Max pain ranged from $120.00 to $124.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 2.18.

Notable Days

  • 2015-03-20: Highest Volume — 843,403 contracts
  • 2015-03-25: Largest IV spike — 24.9% change
  • 2015-03-26: Highest IV Rank — 31.4%
  • 2015-03-10: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$123.30$120.20$125.97$123.58$124.45
Max Pain$121.91$120.00$124.00$120.00$123.50
ATM IV15.3%12.7%17.5%13.9%15.9%
Expected Move4.4%3.6%5.1%3.9%4.5%
HV 20d11.6%9.1%15.9%10.8%15.8%
HV 60d15.9%14.9%16.8%16.8%16.1%
IV Rank15.8%0.0%31.4%0.0%25.5%
IV Percentile18.9%0.0%51.6%0.0%23.4%
Term Structure0.3%-0.1%0.8%0.8%0.3%
VWIV16.9%14.4%18.8%15.3%17.1%
Skew 25d5.0%4.3%5.4%4.3%5.2%
Skew 10d9.5%8.7%10.6%8.7%10.6%
Call IV 25d13.4%11.0%15.1%12.3%13.7%
Put IV 25d18.4%15.5%20.5%16.7%18.9%
Bid-Ask Spread %2.081.602.691.671.94
Gamma HHI0.060.050.190.060.05
Net GEX-495.7M-1.37B271.5M-149.1M-848.3M
Net DEX897.6M-6.24B7.85B-1.95B2.79B
Net VEX-52.0M-59.4M-46.8M-46.8M-56.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.181.323.373.371.56
Total Volume486,078.136206,347843,403445,196411,422
Total OI4,936,517.7734,291,0185,764,0194,459,9274,927,186

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-03-02$123.58$120.0013.9%3.9%10.8%0.0%15.3%4.3%0.8%-149.1M-1.95B-46.8M3.371.67101,869343,3271,102,3293,357,598
2015-03-03$122.80$120.0014.9%4.2%11.1%8.6%15.9%4.9%0.2%-386.5M-76.2M-50.5M1.961.61130,697255,9071,141,7183,532,475
2015-03-04$122.35$120.0015.4%4.3%9.6%13.2%16.6%4.9%0.1%-521.1M909.3M-52.9M2.641.60104,591275,9921,160,0633,616,539
2015-03-05$122.77$121.0014.7%4.4%9.1%7.2%17.1%4.8%0.2%-403.2M-29.6M-51.3M2.312.3398,288227,1211,174,3093,637,731
2015-03-06$121.10$121.0016.6%4.8%9.2%23.2%18.3%5.1%-0.1%-764.6M3.59B-54.0M2.082.35188,515391,3771,185,9003,707,400
2015-03-09$121.70$121.0016.2%4.7%9.3%20.5%18.2%5.3%0.1%-529.6M1.88B-52.0M2.701.8455,812150,5351,158,6563,671,126
2015-03-10$120.20$121.0017.5%5.1%10.0%31.4%18.2%5.4%0.3%-854.8M5.04B-53.8M2.662.12151,594403,7881,170,9633,739,248
2015-03-11$121.02$121.0016.9%4.9%10.1%26.5%18.8%5.2%0.2%-708.3M3.38B-52.7M1.832.18105,470193,1581,180,6683,783,546
2015-03-12$122.97$121.0015.9%4.7%11.4%17.3%17.8%5.2%0.4%-179.7M-1.00B-50.5M1.971.96169,444334,0541,219,4083,816,826
2015-03-13$122.55$121.0016.3%4.7%10.7%21.4%18.3%5.0%-0.0%-146.1M-68.7M-52.3M2.262.21154,163348,1881,271,8023,925,929
2015-03-16$123.14$121.0016.5%4.7%10.6%22.5%17.7%5.3%0.1%-242.8M-834.1M-50.2M1.321.85172,007226,5881,230,3293,885,977
2015-03-17$123.69$122.0015.9%4.6%10.7%17.2%18.3%5.2%0.4%-126.0M-1.94B-49.5M2.221.96137,089304,2281,279,1133,946,860
2015-03-18$124.80$122.0014.2%4.1%11.1%2.4%16.8%5.0%0.3%70.8M-4.23B-47.7M1.852.21247,686458,0061,296,4334,090,822
2015-03-19$124.99$122.0013.7%3.9%11.1%0.0%15.7%4.9%0.4%228.4M-4.36B-48.0M2.291.98161,123368,4561,333,5164,254,343
2015-03-20$125.97$122.0012.7%3.6%11.3%0.0%14.4%4.5%0.6%271.5M-6.24B-47.0M1.642.65319,653523,7501,366,5244,397,495
2015-03-23$125.86$123.0012.8%3.6%11.4%0.8%14.6%4.5%0.7%-418.5M166.8M-49.1M2.722.4579,791217,135896,2913,394,727
2015-03-24$125.93$124.0013.0%3.6%11.4%2.5%14.7%4.7%0.6%-492.4M217.1M-48.5M2.152.69187,719402,778904,9773,477,679
2015-03-25$122.62$124.0016.2%4.7%15.1%28.3%16.3%5.1%0.3%-1.30B6.89B-57.2M2.322.06245,858570,445923,6353,701,346
2015-03-26$122.25$124.0016.6%4.8%15.0%31.4%16.9%5.0%0.2%-1.37B7.85B-59.4M1.811.96216,051390,4641,055,0523,867,375
2015-03-27$123.03$124.0016.2%4.6%15.2%27.8%17.0%4.9%0.3%-1.32B5.91B-58.9M1.672.28164,983275,7371,085,2803,892,040
2015-03-30$124.87$123.5015.2%4.3%15.9%20.0%17.7%5.0%0.3%-712.1M1.85B-55.3M2.571.86120,124308,7361,051,2483,790,909
2015-03-31$124.45$123.5015.9%4.5%15.8%25.5%17.1%5.2%0.3%-848.3M2.79B-56.7M1.561.94160,938250,4841,056,2423,870,944